Prospect Financial Services LLC Purchases New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Prospect Financial Services LLC purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,700 shares of the company’s stock, valued at approximately $180,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $16,014,000. Zacks Investment Management purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $3,766,000. Point72 DIFC Ltd purchased a new position in SoFi Technologies in the 3rd quarter valued at approximately $3,219,000. Finally, Rockefeller Capital Management L.P. raised its holdings in SoFi Technologies by 20.6% during the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock worth $17,365,000 after purchasing an additional 376,899 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.29.

Insider Buying and Selling at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock worth $416,950,073 in the last quarter. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $16.08 on Tuesday. The business’s 50-day moving average price is $15.75 and its 200 day moving average price is $11.15. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The company has a market capitalization of $17.45 billion, a PE ratio of 160.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same quarter last year, the company posted $0.04 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.